Part of land at Saltcoats Station
Saltcoats
KA21 5JX

Heritable Railway Station Ground Rent Investment

  • Let to Network Rail Infrastructure Limited (1) with 155 years remaining (no breaks)
  • Annual upward only RPI linked rental increases
  • Close to the town centre with nearby occupiers include Police Scotland, North Ayrshire Council, The Job Centre
  • Saltcoats forms part of busy Scotrail station on the Ayrshire Line
  • VAT Free investment
  • Currently producing £18,475 p.a.x.
  • Lot
    6
  • Auction
    11/Feb/2021
  • Rent
    £18,475 per Annum Exclusive
  • Status
    Sold
  • Price*
    £642,000
  • Sector
    Ground Rent
  • Auction Venue
    Live Streamed Auction
  • Part of land at Saltcoats Station<br>Saltcoats<br>KA21 5JX
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
31 miles south of Glasgow
21 miles north of Ayr
15 miles west of Kilmarnock
Roads
A78
Rail
Saltcoats Station (Scotrail)
Air
Glasgow Prestwick International Airport
(15 miles south),
Glasgow International Airport (22 miles north)
Situation

Saltcoats is a popular coastal town with a population of approximately 11,000 people.
The ground rent sites are located at the railway station and is accessed from Vernon Street to the south and Glencairn Street to the north. The railway station is situated at the junction of Vernon Street and Countess Street within the town centre. Nearby occupiers include Police Scotland, North Ayrshire Council and the Job Centre. Retail occupiers include Semichem and Euronics.
Saltcoats Railway station forms part of the Ayrshire Coast Line linking Glasgow in the north with Stranraer in the south.

Tenure

Heritable.

Description

The property comprises plots of land forming part of the railway station.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

AddressTenantTermRent p.a.xReview
Plots of land at
Saltcoats station
Network Rail
Infrastructure Limited
(2)
175 years from 11/11/2001
to 10/11/2176 (1)
£18,4752021 and yearly
thereafter. Upwards
only linked to RPI
Total
  £18,475 

(1) For the year to 31/03/2020 Network Rail Infrastructure Limited reported a turnover of £8,099,000,000, a pre tax profit of £368,000,000 and a new worth of £9,455,000,000.
(2) Under the terms of the lease, the tenant has a pre-emption right to purchase this property. This comes into effect immediately following the auction. It means that once a price is agreed at auction, the tenant, Network Rail must be given the opportunity to buy the property for the same price. They have 21 days to accept or refuse the offer where Network Rail take up their option the seller will contribute to the bidders legal costs. Please see the legal pack for further information.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    28.01.21
    File Size
    3 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.01.21
    File Size
    784 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.21
    File Size
    890 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Lindsays Caledonian Exchange 19A Canning Street
Edinburgh
Midlothian
EH3 8HE
Caroline Grubb 0131 656 5533carolinegrubb@lindsays.co.uk

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